21 Invest, the European investment firm founded by Alessandro Benetton and part of 21 NEXT, Edizione Group's alternative asset management platform, with operations in Italy, France and Spain, announces the sale of Trime to Platinum Equity. Trime is a multinational group and European leader in manufacturing mobile lighting towers, generators and security towers, solutions that ensure safety, operational continuity and energy efficiency on construction sites and infrastructure.
Headquartered in Cassinetta di Lugagnano (Milan), Trime develops and manufactures mobile lighting towers, generators and security towers. These solutions are essential for worker safety and operational continuity on construction sites, major infrastructure projects (roads, railways, tunnels), mining sites and events. Its green solutions (hybrid, battery, solar and plug-in) let customers cut consumption and emissions by up to 90% compared with diesel solutions, and are the main distinctive feature of its offering. The group manufactures in Italy at four production sites and generates over 90% of its revenues abroad. It operates through direct sales subsidiaries in the United Kingdom, the Netherlands, the United States and Australia, serving customers in more than 30 countries.
Since joining 21 Invest's portfolio in 2022, Trime has pursued a growth path led by its founder Andrea Fontanella, CEO Paolo Tacconi and the management team, with strategic support from 21 Invest. Its development has focused on further geographic expansion, product innovation, mainly in renewable energy solutions, and a broader offering for construction site safety.
Over these years, the company has strengthened its management structure, bringing in new key figures and reinforcing its sales organisation and in-house technical team to support the strong growth in business volumes. At the same time, it has accelerated its international expansion. In the United States, sales grew from €9 million in 2021 to around €34 million expected in 2026. In the Netherlands, a market with strong demand for sustainable solutions, Trime has become a key supplier to the leading rental companies. Finally, the 2024 acquisition of a majority stake in Australia's PR Power, the group's long-standing distributor, consolidated its presence in the APAC region.
To support this growth, the company has invested in product innovation. It expanded the green range of both lighting towers and generators and developed solutions for key markets, from lighting towers for the mining sector and road construction sites to products designed for the North American market. It also launched a new line of security towers: mobile video surveillance towers that protect construction sites and remote areas, one of the fastest-growing segments of the market. This integrated offering of illumination, energy and security has consolidated Trime's position as a reference supplier and global leader in innovation in the sector, and has supported cross-selling to existing customers.
Since 2021, revenues have grown from €80 million to over €150 million expected in 2026, while EBITDA has more than doubled. Over the same period, the workforce grew from around 200 to over 300 employees.
The growth journey will continue with Platinum Equity, which will join the founder and management, who will reinvest in the company, to support its next phase of development.
21 Invest and the shareholders were advised by William Blair as financial advisor and by Hogan Lovells Cadwalader on legal matters. BCG, KPMG and ERM conducted the vendor due diligence on business, financial and tax, and HSE matters, respectively.
The minority shareholders and managers were advised by Artha Corporate Finance Advisory as financial advisor and by Deloitte Legal on legal matters.
Platinum Equity was advised by Clearwater as M&A and debt advisor, by Legance on legal matters and by FRM on tax structuring. E&Y handled tax matters and tax due diligence. Alvarez & Marsal, Ducker Carlisle, Efeso and TRC carried out the financial, commercial, operations and EHS due diligence, respectively.
Alessandro Benetton, Chairman of 21 Next and Founder of 21 Invest, commented: “From the outset, we recognised in Trime the potential of an outstanding Italian industrial business capable of innovating and developing solutions increasingly focused on renewable energy. We are proud of the growth journey we have achieved together and confident that Trime is well positioned for the next phase of its development. This reflects the essence of our investment approach: supporting companies, and the territories and communities in which they operate, in their growth, helping to create shared and lasting value for all the stakeholders involved.”
Andrea Fontanella, Chairman and Founder of Trime, commented: “Over the years, Trime has continued on its growth journey, strengthening its team, consolidating its presence in international markets and, above all, continuing to invest in innovation. I would like to thank the 21 Invest team for supporting us throughout this journey with vision and a pragmatic approach. With Platinum Equity, a new chapter begins, in which I will continue to invest alongside the management team to support and accelerate Trime’s future growth.”